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over at citi, but i would be happy if i were a shareholder. the stock went up on the news. never easy to change your mind. something we're asking of our politicians, they can't do that. but citigroup's management was willing to take the hard medicine for the shareholders. we hear endless negativity about china and europe, but the chinese market last night, it was a gigantic move signifying what might be the beginning of a new growth phase. have you checked european stocks lately? smoke show. hey, even i can get too gloomy. i've been critical of bank of america for its unfathomable top dollar acquisitions, including the ill-timed merrill lynch purchase and the ridiculous countrywide buy. i've chided these guys as being one gigantic law firm with a bank attached. that's how much their earnings have been dependent upon legal obligations. and that's what cuts them. bank of america led the dow today, broke out above $10. a level hasn't been seen in ages as the unsold homes dwindles, i think it probably goes higher. here's the bottom line, listen to me, go ahead, be gloomy, you have every r
. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. let'for an idea.s - a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful t
toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did no
to massachusetts. also got the houston mayor to tell us how her city is preparing for a strike. futures still a little jittery here this morning. dow down 86. "squawk on the street" back in a minute. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> instagram users may have made good on their threat to dump the photo sharing app after the controversy over new privacy rules, according to app data in the "new york post." app data says that instagram may have shed almost 25% of its daily active users as a res
this morning, the kansas city fed survey. the lead story in the journal today is a 6.9% rise in house prices so far this year. since january. and some people are saying after some false starts, residential has concerned. >> well, you're right. >> you can have some recovery, some have firmness in housing prices, but it's going to drive the recovery on the back of housing. that's not going to happen. >> and people are choosing who to hook up with. i couldn't tell whether that spoke to you or whether you thought it was odd. you thought it was a pretty good idea, i think. you don't want to go out with someone who has a 200, do you? >> do you think eharmony should add a little line, what is your credit score? >> what is your credit score. >> and people are dating now on -- >> can you trust someone who you give your attentions to and eventually give your heart to that doesn't pay your bills? would you? it makes sense to me, doesn't it? >> i don't know about that. >> you could stay with the person, too. >> change them? >> wasn't that the problem when you're -- you don't want a lasting relationship wit
yet. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smar
housing data out tod home prices rose 4.3% in the 12 months ending in october in a 20-city composite, beating analysts' forecasts. it did appear as 12 of the 20 cities in both composites posted monthly declines in october. david blitzer will join us in just a few minutes to go over this data. bottom line here, better than expected. maybe this is enough to keep this sector going. a very strong sector in consumer discretionary overall. home builders have really been a double in 2012. >> it wasn't until the second half of this word that you started hearing the words housing and gdp growth in the same sentence. perhaps the most significant part of the economy for so much of the early parts of the 2000s. we'll see. they do call it a sustained recovery. that is, s&p-case schiller, and the recovery continues to gather strength. >> the best performing sector, though, financials. >> financials, yeah. >> 26% on financials. utilities the only one lower for the year. nine out of ten s&p sectors higher. that doesn't happen a whole lot. >> no. >> when we come back, christmas day may be over, but w
@cnbc.com. coming up, the outlook for health care in 2013. here's a hint -- think taxes. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> time to prep your portfolio. bertha coombs with what's in stoke for the health care sector in 2013. >> reporter: the rollout of bicycle care will weigh heavily on health care services, medical devices, and health insurers. hospital stocks the best performers in the health care sector in 2012, likely to be volatile and vulnerable in 2013. new medicare rules peg reimbursement rates more to outcomes rather than just the number of procedures. for insurers, 2013 will bring more m&a to diversified business as u.s. profit margins are kweezed by regulation and competition -- squeezed by regulation and competition. the acquisition of brazil
an apartment, it was not that valuable. >> it's not practical for a new york city dweller, for instance. >> when you get houses, you see the mexican properties? i'm saying they're going up there. >> oh, really? >> yeah. if anybody wants one. >> available for weekend rental. >> semiautomatic weapon included. >> somebody stole it from me, he thought i was going to stop there, and let hem get away with it, and that's not really my style. >> would you kidnap jim cramer, david? i'm not sure. >> no. >> it would end there. >> it never ends. >> if the guy had done nothing, i would have said fib. but i found him -- no one has seen "taken 2." >> how could you not? what a great franchise. >> i know. >> she's been taken. >> really bad luck. >> when we come back, apple tv, microsoft surface tablets, we'll bring you the latest development regarding both of those. more from the deal book conference in manhattan, including an exclusive with lloyd feinstein. 11:00 a.m. eastern time. hanging on to gains. at the nyse, when we return. can i help you? i heard you guys can ship ground for less than the ups s
chickens in the two, three, four tier cities. they're equal to chicago, right? >> yeah. 200 cities in china the size of chicago, in terms of population. >> and those are small. >> can you imagine the lines at starbucks there? a cappuccino machine goes down, it could shut down the whole city. >> my daughter was asking, how did there come to be so many people in china? >> 200 years ago, i guess, that's a long time -- >> the nation building? >> i didn't have an answer. >> discovery will do us -- >> fill me in. i need to brush up on my -- >> but david faber isn't ignorant. his hair looks better. china, here's the story. >> hair looks better. then china better. relative issue. >> it's a relative issue. thank you. very nice. >>> let's check with mary thompson, on the floor in for bob pisani today. >> weakness across the board. weakness in the nasdaq, down about 20 points. the dow lost in early trade. a little more modest in the s&p, down 4.25%. traders saying the fiscal cliff headlines will continue to dictate trading. and here there was a little reaction in the futures market ahead of today's op
's 1994 levels. >> that's a big part of morgan stanley's call on citi today. from overweight to equal weight. consumer deleveraging in their view coming to an end. and the more clarity on regulations. we are exiting this really weird period of uncertainty. rules come into focus. and if these consumer balance sheet numbers are right. next year could look different, jim. >> yes. there are a lot of assets -- look, a lot of bad loans that are becoming good loans. citi was always relatively opaque. i tried many, many times to penetrate citi holdings, which is the legacy of the core running it now. it may be good. i mean, pandit always promised me the money in holdings was money good. if you go to the book value of companies like morgan stanley, 9% of book -- i mean, in other words, what i'm saying is, xlf, look out. 14 to 16 from june to now. but it could go back to a much higher level. >> you wonder about the nominations to treasury, good time to get out of the business. righting the ship, moving on to something else? >> elizabeth arden, now senator-elect on the banking committee, has alw
this morning, a company backed by millionaire elon muss sex going mub. we are talking about solar city, known for solar panels, musk, who is the company's chairman and ceo, lyndon life, will join us this hour. nship. together for your future. ♪ >>> google maps returned to apple's i phone and ipad. google maps replaced the default application with its own app but that was a target of widespread criticism. the google maps available as a download from apple's itunes store. so it is available as a download. i mean, does this change anything, jim? >> google is huge. >> yeah it s >> apple -- are we really trading on every little review now? oh, wow, google maps. there is a un -- really an unreality about these stocks. they should not trade on whether google maps is sudden lynn better than apple maps, should be trading on profits, earnings. google missed last time, apple missed twice. maybe apple doing better. we look at the review and say i got to take out some google. it is not going to drive google's earnings, if you -- display ad does drive google's earnings but nothing to do with display ads,
share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>> also, the national association for business economics growth in 2013 to come in at 2.1% after growing by 2.2% in 2012. that would continue the same tepid growth that the country has seen since the recession ended back in mid 2009. >>> and the nation is mourning the horrific event of friday in newtown, connecticut. president obama spoke last night about change. >> we can't kol rate this any more. these tragedies must end. and to end them, we must change. we will be told that the causes of such violence are complex, and that is true. no single law, no set of laws can eliminate evil from the world or event every senseless act of violence in our society. >>> and earlier in the day, new york city mayor michael bloomberg called on the president to lead the nation on the issue of gun control. >> it's time for the president, i think, to stand up and lead and tell this country what we should do. not go to congress and say, what you guys w
the straight equities business. der riff city was the key. >> people want to believe this is not going to be the latest in a chain of squelch deals, denied deals. you think this one -- >> this one does not appear to have any hair on it when it comes to antitrust. >> nationalism. >> two u.s. companies. two u.s. companies. unless you want new york versus atlanta. that could be -- >> we did that. >> atlanta, the financial capital of the world. not the same ring to it. >> oracle buys a company. yesterday, merkel buys a company. today -- >> angela merkel bought a company? >> play that out. the insurance business. gardner denver perhaps. david -- >> yeah. >> this is deal mania. >> mention arris, trading up again, double the size of the -- what is happening? >> ge this week. >> potentially, the italian enginemaker. >> the fiscal cliff, result supposed to be frozen? aren't we supposed to be paralyzed? >> i guess the clock ran out on everybody saying we can't do anything? >> this is huge for us. >> i don't have a legitimate answer for you. none of these transactions are going to close this year
debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white house's perspective right in the top line take a look at the details here. boehner and the other house republicans are asking for $800 billion in new tax reform revenue. that's short of the $1.6 trillion that the president would like to see there. also health savings of $600 billion. mandatory savings of $300 billion. revisions of cpa of 200 billion. other discretionary saving 300 billion. they say net savings is $2.2 trillion all told. the white house says this plan is not balanced, and interestingly there's a little side skirmish here between the speaker of the house john b
strong, kansas city southern and delta on fire. that stock is up 20% in the last few weeks and jetblue also doing well on top of that. deal of the week, of course, you know the new york stock exchange. maybe it's the deal of the month. 33.12 and ended a little bit before for that the nyc/i.c.e. deal and of course what we don't know is the name of the new company. let's hope it has nyse in it. >> thanks. we want to slip in on a quick break and get those numbers out for the fourth quarter. house getting set to vote on the proposal. daniels took his state from deficit to surplus his few year in washington. i'll ask him what washington has to do. today morse will making agawa becoming the most popular group and what one member thinks of the i.c.e. negotiation. back in a moment. . >>> welcome back. to hammer out a debt deal, they may want to take a page from indiana's playbook. the state has about $2 billion in cash reserves and an estimated half a billion surplus heading into the new year. outgoing governor mitch daniels knows all about balancing the budget. he served as director of the of
in new york city and so is our kayla. >> hi, sue. a slate of heavy hitters throughout the morning. and the day is only half way over. well tell you what they said about the fiscal cliff and innovation coming up after the break. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., r
's up tonight? >> i have citi national. this is a boutique bank based in california making money for people. i have to find out. they have big business with the ports in california. they also are worried about the fiscal cliff. i have known russell for years. >> we'll see you tonight. >> thank you. >> 6:00 and 11:00 eastern time. the president meeting with governor this is morning about the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some o
and the wind. we will see issues in places like new york city, possibly as far south as raleigh. pretty easygoing. we'll be seeing the heavy rain in places like san francisco. oakland could have some backupes and perhaps some in portland and seattle. back to you guys. >> all right, reynolds wolf. got it. >> you know, you don't lose anybody if you go wolf reynolds. we have said that. >> reynolds, he also has carl. he wants him to be carl quinn. >> you do, really? >> you hear tr people who don't do it on purpose, though, reynolds. that's the thing. you're in on it. we're all in on this together. anyway, congratulations on still being here, reynolds, and maybe we'll see you next week. >>> coming up, why share of blackberry birmingham rim popped and dropped after the bell. i'm thinking also, becky, they will buy me an iphone here. now i'm thinking i go with this new thing, this new -- >> the blackberry 10? >> yeah. all i use it for -- i don't know how to do the stuff you're supposed to do, anyway. >>> plus, speaker boehner -- >> you can get your mail on your blackberry and your ipad. >> fai
unionizing schemes unions doesn't call themselves unions anymore. in the case of new york city they launched a campaign to try to unionize the fast food restaurant. they didn't call it the fast food restaurant unsions, they called it fast food forward. at this point i think unions are finally realizing that their brand is so toxic that they actually need to start rebranding themselves because frankly they haven't been willing or capable to actually adjust to a 21st century economy. they are stuck in the 1950s, and they want 1950s policies to return, return to protectionism and a whole slew of other policies that will hurt our economy so at this point they are sort of like becoming, well, almost extinct. >> what about that? are you stuck in the 1950s? >> absolutely not, and i think maybe just season in a little bit of a delusional stage here because unions in fact are the key right now in this weak economy. it's what we need. >> key to putting people out of work? you just put 18,000 people out of work. >> i didn't interrupt you. the key to balancing the economy have tremendous inequality. you
, avtivision, the city commerce division is studying video games and their impact on children and in wake of president obama's speech about gun control, the thought we might see more scrutiny in games. seeing the declines for take two, worse 4.2 percent and the rest following suit. sue, back to you. >> thank you. >>> another probe into a giant hedge fund. this one with their top portfolio manager. >>> then general managers buys back 200 million shares from the filibusters. >> it means a nice pop in gms. perhaps the best they have seen in a long time. how long? we will show you the last time they traded at this level when "power lunch" returns. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed t
york city police officers. i ran alongside -- might as well have been 1880. here we are talking about apple tv. at some point in technology, we got to even up the technology gap. >> thanks so much for being with us, brian. can you see brian's entire exclusive interview with tim cook on rock center, 10:00 p.m. eastern time on nbc. >> can't wait. >>> let's dig a little deeper with our all-star apple panel right now. apple supply chain expert brian blair is with us. he's with wedge partners. cnbc's jon fortt is here. and today's "power lunch" contributor is jim iuorio. jim, i'm going to start with you, if i could. how do you feel about apple? i'm starting with you really because the rebound in the stock, everybody's talking about it down here. what do you make of that? >> as a company i feel great about apple but i have to push that aside because we're talking about the stock price here. even if we correctly identified why apple was trading lower for the last couple weeks, as strictly a tax thing, that doesn't mean that that reason can't morph into something else. think of it this way. w
.1 ounces in new york city. things are going in a very strange direction. does that factor into your thinking? pizza is not thought of as health food. >> you put a bunch of vegetables on it and it can be healthy. there are some menu labelling issues. >> when are you guys going to follow him right in there? if you look at the ties over here, they're disappearing quickly. >> cold pizza has been a staple for a long time. i think that's going to remain our core entrance into the breakfast market. >> yeah. you don't need eggs, either. it's basically bread, chicken and cheese. that doesn't seem like a -- usually i don't eat anything until like 10:30 or something. and one egg. you really shouldn't do that if you're up at 3:30, right? >> if you're up at 3:30, i think you need a meal. highly recommend pizza. >> how come the holiday sess a bigger time for you, patrick? >> you know, as families start to get together, as the weather gets colder, people tend to stay in. they're out shopping or they're just very busy. and they get home, they need something convenient and so we're out hiring somewh
to be sitting down with bill ackman today after his presentation today in new york city. you'll be able to see during the fast money halftime report. >> google agreeing to sell a set top tv boxmaker called motorola home. the price tag is $2.4 billion in cash and stock. era is a georgia based equipment maker and the shares jumped after hours. >> when we return a major winter storm wreaking havoc across the central plains. draco will make holiday travel difficult. an update right after this. and then it's your tools of the trade. oil, gold and more as we get ready for another day on trading on wall street. "squawk" will be back. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer
Search Results 0 to 24 of about 25 (some duplicates have been removed)